Borr Drilling Limited (BORR) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 247M | 259.4M | 277.1M | 267.7M | 216.6M | 263.1M | 241.6M | 271.9M | 234M | 220.6M | 191.5M | 187.5M | 172M | 148.6M | 107.9M | 105.3M | 82M | 69.1M | 73M | 54.8M |
| Revenue Growth % | 14.04% | -1.41% | 14.69% | -1.54% | -7.44% | 19.27% | 26.16% | 45.01% | 36.05% | 48.45% | 77.48% | 78.06% | 109.76% | 115.05% | 47.81% | 92.15% | 69.42% | 14.78% | 23.31% | -34.76% |
| Cost of Goods Sold | 187.2M | 177.9M | 166.1M | 36.7M | 35.9M | 35.7M | 31.8M | 31.9M | 31.8M | 30.8M | 30.4M | 28M | 28.2M | 28.3M | 29.2M | 29.5M | 29.5M | 36.4M | 28.4M | 26.4M |
| COGS % of Revenue | 75.79% | 68.58% | 59.94% | 13.71% | 16.57% | 13.57% | 13.16% | 11.73% | 13.59% | 13.96% | 15.87% | 14.93% | 16.4% | 19.04% | 27.06% | 28.02% | 35.98% | 52.68% | 38.9% | 48.18% |
| Gross Profit | 59.8M | 81.5M | 111M | 231M | 180.7M | 227.4M | 209.8M | 240M | 202.2M | 189.8M | 161.1M | 159.5M | 143.8M | 120.3M | 78.7M | 75.8M | 52.5M | 32.7M | 44.6M | 28.4M |
| Gross Margin % | 24.21% | 31.42% | 40.06% | 86.29% | 83.43% | 86.43% | 86.84% | 88.27% | 86.41% | 86.04% | 84.13% | 85.07% | 83.6% | 80.96% | 72.94% | 71.98% | 64.02% | 47.32% | 61.1% | 51.82% |
| Gross Profit Growth % | -66.91% | -64.16% | -47.09% | -3.75% | -10.63% | 19.81% | 30.23% | 50.47% | 40.61% | 57.77% | 104.7% | 110.42% | 173.9% | 267.89% | 76.46% | 166.9% | 162.5% | 5.14% | 47.19% | -49.73% |
| Operating Expenses | 13.8M | 14.2M | 12.8M | 134.5M | 120.5M | 126.4M | 126.1M | 135.5M | 117.2M | 109.1M | 97.3M | 99.6M | 97.8M | 90.8M | 74.8M | 198.8M | 64.8M | 45.7M | 53.3M | 54.4M |
| OpEx % of Revenue | 5.59% | 5.47% | 4.62% | 50.24% | 55.63% | 48.04% | 52.19% | 49.83% | 50.09% | 49.46% | 50.81% | 53.12% | 56.86% | 61.1% | 69.32% | 188.79% | 79.02% | 66.14% | 73.01% | 99.27% |
| Selling, General & Admin | 13.8M | 14.2M | 12.8M | 12.3M | 11.1M | 12.2M | 12M | 11.6M | 13.4M | 10.8M | 11.6M | 10.3M | 12.4M | 11M | 7M | 9.6M | 9.2M | 7.5M | 7.7M | 7.8M |
| SG&A % of Revenue | 5.59% | 5.47% | 4.62% | 4.59% | 5.12% | 4.64% | 4.97% | 4.27% | 5.73% | 4.9% | 6.06% | 5.49% | 7.21% | 7.4% | 6.49% | 9.12% | 11.22% | 10.85% | 10.55% | 14.23% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 46M | 67.3M | 98.2M | 96.5M | 60.2M | 101M | 83.7M | 104.5M | 85M | 80.7M | 63.8M | 59.9M | 46M | 29.5M | 3.9M | -123M | -12.3M | -13M | -8.7M | -26M |
| Operating Margin % | 18.62% | 25.94% | 35.44% | 36.05% | 27.79% | 38.39% | 34.64% | 38.43% | 36.32% | 36.58% | 33.32% | 31.95% | 26.74% | 19.85% | 3.61% | -116.81% | -15% | -18.81% | -11.92% | -47.45% |
| Operating Income Growth % | -23.59% | -33.37% | 17.32% | -7.66% | -29.18% | 25.15% | 31.19% | 74.46% | 84.78% | 173.56% | 1535.9% | 148.7% | 473.98% | 326.92% | 144.83% | -373.08% | 69.7% | 48.82% | 80.49% | 71.49% |
| EBITDA | 46M | 105.1M | 135.8M | 133.2M | 96.1M | 136.7M | 115.5M | 136.4M | 116.8M | 111.5M | 94.2M | 87.9M | 74.2M | 57.8M | 33.1M | -93.5M | 17.2M | 23.4M | 19.7M | 400K |
| EBITDA Margin % | 18.62% | 40.52% | 49.01% | 49.76% | 44.37% | 51.96% | 47.81% | 50.17% | 49.91% | 50.54% | 49.19% | 46.88% | 43.14% | 38.9% | 30.68% | -88.79% | 20.98% | 33.86% | 26.99% | 0.73% |
| EBITDA Growth % | -52.13% | -23.12% | 17.58% | -2.35% | -17.72% | 22.6% | 22.61% | 55.18% | 57.41% | 92.91% | 184.59% | 194.01% | 331.4% | 147.01% | 68.02% | -23475% | 240.98% | 532.43% | 225.48% | 100.63% |
| D&A (Non-Cash Add-back) | 0 | 37.8M | 37.6M | 36.7M | 35.9M | 35.7M | 31.8M | 31.9M | 31.8M | 30.8M | 30.4M | 28M | 28.2M | 28.3M | 29.2M | 29.5M | 29.5M | 36.4M | 28.4M | 26.4M |
| EBIT | 46M | 67.9M | 96.8M | 94.6M | 51.3M | 90.8M | 76M | 96M | 79M | 63.2M | 54M | 52.6M | 44.7M | 14.4M | -15.6M | -128.5M | -19.3M | -18.1M | -5M | -37M |
| Net Interest Income | -63.8M | -55.2M | -56.6M | -57.8M | -62.8M | -56.2M | -53.2M | -50.5M | -50.1M | -54.6M | -39.4M | -46.4M | -40.5M | -49.4M | -34M | -37M | -35.3M | -26M | -22.9M | -25.8M |
| Interest Income | 0 | 1.5M | 1.1M | 500K | 600K | 1M | 1.6M | 2.4M | 1.4M | 700K | 100K | 1.7M | 2.4M | 700K | 800K | 3.9M | 0 | 0 | 0 | 0 |
| Interest Expense | 63.8M | 56.7M | 57.7M | 58.3M | 63.4M | 57.2M | 54.8M | 52.9M | 51.5M | 55.3M | 39.5M | 48.1M | 42.9M | 50.1M | 34.8M | 40.9M | 35.3M | 26M | 22.9M | 25.8M |
| Other Income/Expense | -63.9M | -56.1M | -59.1M | -56.6M | -64.5M | -65.1M | -58.5M | -57.9M | -52.4M | -61.6M | -48.9M | -45.7M | -38.1M | -48M | -54.3M | -36M | -34.2M | -29.4M | -19.2M | -34.9M |
| Pretax Income | -17.9M | 11.2M | 39.1M | 39.9M | -4.3M | 35.9M | 25.2M | 46.6M | 32.6M | 19.1M | 14.9M | 14.2M | 7.9M | -18.5M | -50.4M | -159M | -46.5M | -42.4M | -27.9M | -60.9M |
| Pretax Margin % | -7.25% | 4.32% | 14.11% | 14.9% | -1.99% | 13.64% | 10.43% | 17.14% | 13.93% | 8.66% | 7.78% | 7.57% | 4.59% | -12.45% | -46.71% | -151% | -56.71% | -61.36% | -38.22% | -111.13% |
| Income Tax | 11.1M | 12.2M | 11.3M | 4.8M | 12.6M | 9.6M | 15.5M | 14.9M | 18.2M | -9.3M | 14.6M | 13.4M | 15.3M | 2.8M | 4.5M | 6.3M | 4.8M | 3.7M | 4.7M | -1M |
| Effective Tax Rate % | -62.01% | 108.93% | 28.9% | 12.03% | -293.02% | 26.74% | 61.51% | 31.97% | 55.83% | -48.69% | 97.99% | 94.37% | 193.67% | -15.14% | -8.93% | -3.96% | -10.32% | -8.73% | -16.85% | 1.64% |
| Net Income | -29M | -1M | 30.8M | 35.1M | -16.9M | 26.3M | 9.7M | 31.7M | 14.4M | 28.4M | 300K | 800K | -7.4M | -21.3M | -54.9M | -165.3M | -51.3M | -46.1M | -32.6M | -59.9M |
| Net Margin % | -11.74% | -0.39% | 11.12% | 13.11% | -7.8% | 10% | 4.01% | 11.66% | 6.15% | 12.87% | 0.16% | 0.43% | -4.3% | -14.33% | -50.88% | -156.98% | -62.56% | -66.71% | -44.66% | -109.31% |
| Net Income Growth % | -71.6% | -103.8% | 217.53% | 10.73% | -217.36% | -7.39% | 3133.33% | 3862.5% | 294.59% | 233.33% | 100.55% | 100.48% | 85.58% | 53.8% | -68.4% | -175.96% | 5.7% | 22% | 47.33% | 45.35% |
| Net Income (Continuing) | -29M | -1M | 27.8M | 35.1M | -16.9M | 26.3M | 9.7M | 31.7M | 14.4M | 28.4M | 300K | 800K | -7.4M | -21.3M | -54.9M | -165.3M | -51.3M | -46.1M | -32.6M | -59.9M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.09 | -0.00 | 0.10 | 0.13 | -0.07 | 0.09 | 0.04 | 0.11 | 0.05 | 0.10 | 0.00 | 0.00 | -0.03 | -0.09 | -0.30 | -1.09 | -0.35 | -0.34 | -0.24 | -0.44 |
| EPS Growth % | -35.73% | -103.69% | 159.32% | 18.18% | -227.11% | -7.8% | - | - | 273.33% | 207.53% | 100.4% | 100.29% | 91% | 72.65% | -25% | -147.73% | 16.67% | 22.73% | 69.23% | 73.49% |
| EPS (Basic) | -0.09 | -0.00 | 0.11 | 0.15 | -0.07 | 0.11 | 0.04 | 0.13 | 0.06 | 0.11 | 0.00 | 0.00 | -0.03 | -0.09 | -0.30 | -1.09 | -0.35 | -0.34 | -0.24 | -0.44 |
| Diluted Shares Outstanding | 307.92M | 290.92M | 311.61M | 273.88M | 243.39M | 285.32M | 254.89M | 288.44M | 256.56M | 289.52M | 250.17M | 248.92M | 234.78M | 228.94M | 185.62M | 152.28M | 145.78M | 136.81M | 136.81M | 137.22M |
| Basic Shares Outstanding | 307.92M | 290.92M | 275.46M | 238.91M | 243.39M | 248.71M | 250.97M | 251.19M | 252.72M | 251.57M | 245.75M | 244.78M | 234.78M | 228.94M | 183M | 151.65M | 145.78M | 136.81M | 136.81M | 136.76M |
| Dividend Payout Ratio | - | - | 0.02% | 0.5% | - | 17.87% | 246.39% | 75.39% | 165.28% | - | - | - | - | - | - | - | - | - | - | - |